3MST.L vs. NVDI.L
3MST.L (Leverage Shares 3x Long MicroStrategy ETP) and NVDI.L (IncomeShares NVIDIA NVDA Options ETP) are both exchange-traded funds - 3MST.L is a Leveraged Equities fund tracking the Euronext 3x Long MicroStrategy Index, while NVDI.L is a Options Trading fund actively managed by Leverage Shares. 3MST.L is passively managed, while NVDI.L is actively managed. Over the past year, 3MST.L returned -99.29% vs 19.99% for NVDI.L. At a 0.36 correlation, their price movements are largely independent. 3MST.L charges 0.75%/yr vs 0.55%/yr for NVDI.L.
Performance
3MST.L vs. NVDI.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3MST.L achieves a -78.63% return, which is significantly lower than NVDI.L's -0.43% return.
3MST.L
- 1D
- -8.62%
- 1M
- -71.71%
- YTD
- -78.63%
- 6M
- -88.77%
- 1Y
- -99.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NVDI.L
- 1D
- 0.00%
- 1M
- 8.35%
- YTD
- -0.43%
- 6M
- 2.01%
- 1Y
- 19.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3MST.L vs. NVDI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | -78.63% | -98.41% | 164.28% |
NVDI.L IncomeShares NVIDIA NVDA Options ETP | -0.43% | 16.65% | 9.58% |
Correlation
The correlation between 3MST.L and NVDI.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.36 |
The correlation between 3MST.L and NVDI.L shifts across timeframes, from 0.25 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3MST.L vs. NVDI.L — Risk / Return Rank
3MST.L
NVDI.L
3MST.L vs. NVDI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long MicroStrategy ETP (3MST.L) and IncomeShares NVIDIA NVDA Options ETP (NVDI.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| 3MST.L | NVDI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.13 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.92 | -1.92 |
| Martin ratioReturn relative to average drawdown | -1.21 | 2.00 | -3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 3MST.L | NVDI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | 0.62 | -1.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.40 | 0.11 | -0.50 |
Drawdowns
3MST.L vs. NVDI.L - Drawdown Comparison
The maximum 3MST.L drawdown since its inception was -99.94%, which is greater than NVDI.L's maximum drawdown of -31.39%. Use the drawdown chart below to compare losses from any high point for 3MST.L and NVDI.L.
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Drawdown Indicators
| 3MST.L | NVDI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -31.39% | -68.55% |
Max Drawdown (1Y)Largest decline over 1 year | -99.53% | -21.59% | -77.94% |
Current DrawdownCurrent decline from peak | -99.94% | -9.62% | -90.32% |
Average DrawdownAverage peak-to-trough decline | -85.39% | -10.27% | -75.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 82.32% | 9.98% | +72.34% |
Volatility
3MST.L vs. NVDI.L - Volatility Comparison
Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a higher volatility of 61.01% compared to IncomeShares NVIDIA NVDA Options ETP (NVDI.L) at 10.09%. This indicates that 3MST.L's price experiences larger fluctuations and is considered to be riskier than NVDI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3MST.L | NVDI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.01% | 10.09% | +50.92% |
Volatility (6M)Calculated over the trailing 6-month period | 160.17% | 20.28% | +139.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 198.97% | 32.34% | +166.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 236.29% | 39.31% | +196.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 236.29% | 39.31% | +196.98% |
3MST.L vs. NVDI.L - Expense Ratio Comparison
3MST.L has a 0.75% expense ratio, which is higher than NVDI.L's 0.55% expense ratio.
Dividends
3MST.L vs. NVDI.L - Dividend Comparison
3MST.L has not paid dividends to shareholders, while NVDI.L's dividend yield for the trailing twelve months is around 20.63%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 0.00% | 0.00% | 0.00% |
NVDI.L IncomeShares NVIDIA NVDA Options ETP | 20.63% | 32.04% | 2.59% |
Frequently Asked Questions
3MST.L and NVDI.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NVDI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NVDI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for 3MST.L.
3MST.L is categorized as Leveraged Equities, while NVDI.L is Options Trading. Their fees differ too: 0.75% for 3MST.L and 0.55% for NVDI.L.
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